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| Mark Read |
WPP CEO Mark Read reported like-for-like revenues dropped 2.7 percent to $3.3B in Q1 due to the challenging business environment.
The firm made solid progress on its strategic priorities, and Read declared the internal focus on integration is now behind it.
Though WPP is not directly affected by president Trump’s tariffs, “they will impact a number of our clients, as well as the general economy,” he said.
WPP reported flat revenues of $1.3B in North America, while the UK dipped 5.5 percent to $490M, Continental Europe fell 4.5 percent to $648M, and the rest of the world declined 3.8 percent to $848M.
The Top 25 clients grew 2.5 percent during Q1 sparked by a strong performance in CPG, improvement in tech & digital services, and stabilization in healthcare.
Retail, telecom and travel & leisure posted declines.
On the PR front, revenues declined 6.6 percent to $223M, reflecting the divestiture of FGS Global to KKR.
Burson posted a revenue dip in the mid to high single digits, due largely to the lackluster European market. Read is encouraged by Burson’s improved new business momentum in the US.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
